Insider Selling: Nordstrom Inc. (JWN) Director Sells 24,534 Shares of Stock
Nordstrom Inc. (NYSE:JWN) Director Enrique Hernandez, Jr. sold 24,534 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $58.38, for a total value of $1,432,294.92. Following the transaction, the director now directly owns 3,772 shares in the company, valued at approximately $220,209.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Nordstrom Inc. (NYSE:JWN) traded down 3.09% during mid-day trading on Monday, reaching $56.06. 4,368,141 shares of the company were exchanged. Nordstrom Inc. has a 12 month low of $35.01 and a 12 month high of $62.82. The firm’s 50-day moving average is $54.61 and its 200-day moving average is $46.88. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 29.84 and a beta of 1.02.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.32. The firm earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, equities analysts forecast that Nordstrom Inc. will post $2.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 28th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, November 23rd. Nordstrom’s payout ratio is 79.14%.
Several equities analysts have issued reports on JWN shares. Stifel Nicolaus raised their price objective on Nordstrom from $44.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Deutsche Bank AG raised their price objective on Nordstrom from $47.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Guggenheim started coverage on Nordstrom in a report on Friday, September 30th. They set a “buy” rating and a $60.00 price objective on the stock. Maxim Group raised their price objective on Nordstrom from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, November 11th. Finally, KeyCorp reissued a “buy” rating on shares of Nordstrom in a report on Friday, November 11th. Seven research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the stock. Nordstrom has a consensus rating of “Hold” and a consensus target price of $49.16.
Hedge funds have recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Nordstrom during the second quarter worth $111,916,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the company’s stock valued at $141,701,000 after buying an additional 2,718,233 shares during the period. Vanguard Group Inc. increased its stake in shares of Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock valued at $526,621,000 after buying an additional 1,945,151 shares during the period. Smith Asset Management Group LP purchased a new stake in shares of Nordstrom during the third quarter valued at approximately $62,974,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock valued at $136,755,000 after buying an additional 929,597 shares during the period. Hedge funds and other institutional investors own 66.18% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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